Stock Market & Financial Investment News

Fertitta completes tender offer for shares of Morton's Restaurant Fertitta Morton's Restaurants and its wholly-owned subsidiary, Fertitta Morton's Acquisition, has successfully completed a tender offer for all of the outstanding shares of common stock of Morton's Restaurant Group at a purchase price of $6.90 per share. As a result of the tender offer, Fertitta now owns approximately 92.2% of the outstanding shares of Morton's, sufficient shares to allow it to complete and close the merger and acquisition of Morton's today without stockholder approval. Upon completion of the merger, Morton's will become a wholly-owned subsidiary of Fertitta who will then own 100% of the outstanding shares of Morton's. All former outstanding shares of common stock of Morton's will be canceled and converted into the right to receive cash equal to the $6.90 offer price per share. In addition, upon completion of the merger, the common stock of Morton's will cease to be traded on the NYSE.